CSX (NASDAQ:CSX) Price Target Raised to $56.00

Key Points

• JPMorgan Chase & Co. raised its price target on CSX from $48 to $56 and kept an overweight rating, implying about 13% upside from the prior close.
• Other analysts remain broadly positive: CSX has a consensus “Moderate Buy” rating, with a MarketBeat average price target of $48.62 and several firms also lifting their targets.
• CSX shares recently traded near their 52-week high at $49.56 after the company reported better-than-expected quarterly EPS of $0.43, while insiders recently sold shares and institutions continue to hold a large stake.

CSX (NASDAQ:CSX - Get Free Report) had its target price hoisted by research analysts at JPMorgan Chase & Co. from $48.00 to $56.00 in a research report issued on Friday,Benzinga reports. The firm presently has an "overweight" rating on the transportation company's stock. JPMorgan Chase & Co.'s price target would indicate a potential upside of 12.98% from the company's previous close.

Several other brokerages have also commented on CSX. Bank of America restated a "buy" rating and set a $53.00 target price (up from $51.00) on shares of CSX in a research report on Wednesday, June 17th. Stephens started coverage on shares of CSX in a report on Wednesday. They issued an "overweight" rating and a $57.00 target price on the stock. Argus increased their price target on CSX from $42.00 to $52.00 and gave the company a "buy" rating in a research report on Friday, May 22nd. Morgan Stanley set a $32.00 target price on CSX and gave the stock an "underweight" rating in a research note on Monday. Finally, Jefferies Financial Group increased their price target on shares of CSX from $50.00 to $52.00 and gave the company a "buy" rating in a research report on Thursday, April 23rd. Sixteen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, CSX currently has a consensus rating of "Moderate Buy" and an average price target of $48.62.

CSX Price Performance

Shares of CSX stock traded up $0.21 on Friday, reaching $49.56. The company had a trading volume of 2,060,192 shares, compared to its average volume of 13,111,710. The business's 50-day moving average is $46.49 and its 200 day moving average is $42.12. The stock has a market capitalization of $92.10 billion, a PE ratio of 30.41, a price-to-earnings-growth ratio of 2.42 and a beta of 1.21. CSX has a one year low of $31.80 and a one year high of $49.65. The company has a quick ratio of 0.83, a current ratio of 0.97 and a debt-to-equity ratio of 1.34.

CSX (NASDAQ:CSX - Get Free Report) last issued its quarterly earnings data on Wednesday, April 22nd. The transportation company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.39 by $0.04. CSX had a net margin of 21.55% and a return on equity of 24.47%. The business had revenue of $3.48 billion during the quarter, compared to the consensus estimate of $3.50 billion. During the same quarter in the prior year, the firm earned $0.34 EPS. The firm's revenue was up 1.7% compared to the same quarter last year. Equities research analysts forecast that CSX will post 1.91 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Kevin S. Boone sold 136,708 shares of the business's stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $46.70, for a total value of $6,384,263.60. Following the completion of the sale, the chief financial officer owned 208,622 shares of the company's stock, valued at approximately $9,742,647.40. The trade was a 39.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John J. Zillmer sold 10,000 shares of the business's stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $46.45, for a total value of $464,500.00. Following the completion of the sale, the director owned 353,714 shares of the company's stock, valued at $16,430,015.30. The trade was a 2.75% decrease in their position. The SEC filing for this sale provides additional information. 0.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CSX

Institutional investors and hedge funds have recently modified their holdings of the stock. Canada Post Corp Registered Pension Plan grew its stake in shares of CSX by 34.2% in the fourth quarter. Canada Post Corp Registered Pension Plan now owns 96,484 shares of the transportation company's stock worth $3,498,000 after acquiring an additional 24,566 shares during the last quarter. SOA Wealth Advisors LLC. boosted its holdings in CSX by 26.0% in the fourth quarter. SOA Wealth Advisors LLC. now owns 111,914 shares of the transportation company's stock worth $4,057,000 after purchasing an additional 23,072 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in shares of CSX by 159.5% in the 4th quarter. Farther Finance Advisors LLC now owns 73,410 shares of the transportation company's stock worth $2,661,000 after buying an additional 45,116 shares during the last quarter. KTF Investments LLC purchased a new position in CSX in the fourth quarter worth about $1,325,000. Finally, BNB Wealth Management LLC purchased a new position in shares of CSX in the fourth quarter worth approximately $1,125,000. 73.57% of the stock is owned by hedge funds and other institutional investors.

CSX Company Profile

CSX Corporation is a leading North American transportation company that provides rail-based freight services and supply-chain solutions. Its operating subsidiary, CSX Transportation, moves a wide range of goods for customers across multiple industries, using a combination of long-haul rail service, intermodal operations and terminal and yard services. The company focuses on delivering efficient, reliable freight transportation between major production centers, consumption markets and port gateways.

CSX's freight portfolio includes intermodal containers and trailers, bulk commodities, industrial products and specialized unit trains.

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